01 Sep Seagate Sells Shopping Center for Over $5 Million
Arbor Towne Investors, LLC – a Seagate Development Group affiliate – has sold Arbor Towne Square to Arbor Lin, LLC for $5.1 million. Tim Schneider with Trinity Commercial Group was the seller’s broker in this transaction, while his colleague, Matthew Fredrickson, represented the buyer of this 30,000-plus-square-foot retail center.
This sale comes 3.5 years after Seagate purchased the property located at 10654-10676 Colonial Blvd. – off Treeline Ave. – in Fort Myers.
Currently, the rent roll consists of Goodwill, Allstate, Domino’s Pizza, Walgreens and Pinch A Penny. The plaza is adjacent to the 76,000-square-foot, 663-unit self-storage facility that Seagate’s SW Management & Realty sold to Public Storage in April.
“This center was a great opportunity for redevelopment when we purchased it,” said Matt Price, CEO & Partner at Seagate Development Group. “Arbor Towne Square has direct access to I-75 and is in a prime location. Thousands of people pass this site every day and rely on tenants’ services. We are more than pleased with the product and
look forward to the continued success of the project.”
For more information on Seagate-owned and managed properties, visit SeagateDevelopmentGroup.com.